Managers of Wealth Africa

Court orders Sonny Odogwu’s estate to pay N26 billion to Access Bank

he judge invalidated a purported consent judgment in which parties in the suit agreed on the payment of N12 billion as full and final payment.

Ruling highlights evidence disclosure duties in South Africa

EY was willing to withdraw from the project to allow Transnet to re-tender, but Transnet rejected this option and asked EY to prepare a revised work plan.

Bank seeks interpretation of S’Court verdict on bank guarantee

It followed a suit by OAN at the Federal High Court in 2006.

Dissilio Investments (Pty) Ltd v Nedbank Limited: What does this mean for Breakage Costs and Early Repayment Penalties?

The judgment was given on specific facts and does not set out general principles of law which will be applicable to all banking relationships with customers.

Massive visa fraud uncovered in South Africa: minister

This only pushed the department to dig deeper, he said.

Judiciary to link 67 courts to national fibre optic hub

The CJ added that the Judiciary has since embraced e-government and is now banking on technology to facilitate the provision of e-justice and improve the efficiency of its administrative processes.

Hogan Lovells advises Persistent in $10M equity round to grow climate venture building in Africa

This is Persistent’s third capital raise since its founding.

More trouble for Flutterwave after Kenyan Court freezes fintech’s bank accounts

The ARA believes that the accounts may have been used as conduits for money laundering in the guise of providing merchant services.

Zondo says banking laws must change to allow clients to be heard before shutting accounts

The Supreme Court of Appeal (SCA) previously ruled that banks were not obliged to hear the client's side, since the two shared a contractual relationship.

High Court yet again sets aside adverse findings by the B-BBEE Commission

Sasol Oil based its review application on the provisions of the Promotion of Administrative Justice Act, 2000 (“PAJA”), alternatively on the principle of legality.

Ex-NBK boss loses Sh1bn fraud suit against CMA

In the case, Mr Kisire also sought the court to overturn a Sh1 million fine and the ban from holding office in listed companies for three years for cooking of books and Sh1 billion fraud allegations.

Court practice directives cannot override the Superior Courts Act

The Pretoria High Court found that, by virtue of the directive, it ceased to have jurisdiction over matters emanating in areas falling within the Mpumalanga Circuit Court’s jurisdiction.

Pending appeals suspend the execution of court orders

The court also confirmed that the reference to “execution” in this section had a wide meaning.

Beware: Attorneys, financial services providers and estate agents most likely to be on the FIC’s radar

The Financial Intelligence Centre Act, 2001 requires accountable institutions to implement risk management and compliance programmes (“RMCPs”) to mitigate their risks.

£1.9 million of seized funds returned to Nigeria

After today (19 May), the Royal Court granted the Attorney General's application to forfeit the funds.

PwC’s Global Economic Crime and Fraud Survey 2022

Protecting the perimeter: The rise of external fraud

Peter Moyo loses last ditch court bid against Old Mutual

The court found that the board members did not defy Judge Brian Mashile's order when they blocked Moyo from returning to his office.

Norton Rose Fulbright South Africa welcomes three new associates

Rebone Motau joined us in April from Gildenhuys Malatji Inc.

Generali Faces New Test As Bitter Battle For Control Nears Climax

Sanctions can be used to apply pressure on a target country to enforce compliance with certain objectives, and to enforce measures where diplomatic efforts have failed.

Conflict of interest: do employees need to disclose their side businesses to their employer?

The employer’s business in this matter was the production and sale of a range of meat products.

Legal